NEW YORK, Aug. 16 (GenomeWeb News) - Norak Bioscience will use its Transfluor fluorescence cell-based assay technology to discover compounds that act against G protein-coupled receptor targets developed by BASF, Norak said.
Under the terms of the agreement, Norak, based in
Financial terms of the deal were not disclosed; however, Norak said it will receive technology access and screening fees, as well as milestones and royalties.
Norak also announced that Lundbeck A/S has exercised its option to screen another of its GPCR targets of interest using Transfluor. The option was part of a screening collaboration agreement signed in December 2002, which stated that Norak would develop a Transfluor cell line expressing the GPCR target of interest for Lundbeck, and then screen the cell line at Norak using its high-throughput imaging systems and against a compound library of Lundbeck's choice.